What Has Been The Evolution of the Cloud-Based Quantum Computing Market in Recent Years?
The cloud-based quantum computing market has seen considerable growth due to a variety of factors.
• The cloud-based quantum computing market has seen exponential growth in recent years. It will grow from $0.66 billion in 2024 to $0.86 billion in 2025, at a CAGR of 29.7%.
This rapid expansion is driven by increasing interest in quantum computing, the rise of quantum software tools, growing demand for quantum as a service, and the need for quantum security solutions.
What Is the Forecasted Market Size and Growth Rate for The Cloud-Based Quantum Computing Market Size In The Coming Years?
The cloud-based quantum computing market is expected to maintain its strong growth trajectory in upcoming years.
• The cloud-based quantum computing market is expected to experience exponential growth, reaching $2.41 billion by 2029, at a CAGR of 29.3%.
This is due to the expanding quantum software ecosystem, demand for industry-specific solutions, integration with classical cloud services, quantum security focus, and an expanding workforce. Trends include industry-specific quantum solutions, hardware advancements, and collaborative research.
What Factors Are Driving Growth In The Cloud-Based Quantum Computing Market?
The rising number of startups is expected to propel the cloud-based quantum computing market. Startups are new companies focused on innovation and growth, often leveraging emerging technologies like cloud computing and SaaS. The rise in startups is driven by changing consumer preferences, urbanization, and sustainability concerns. Cloud-based quantum computing offers startups access to advanced computational power and tools, enabling innovation and growth. In February 2024, Startups. Co reported that new business establishments in the UK rose by 19.5% in 2023, marking a 6.5% increase from 2022. Therefore, the growth in startups is accelerating the cloud-based quantum computing market.
What Are The Main Segments Of The Global Cloud-Based Quantum Computing Market?
The cloud-based quantum computing market covered in this report is segmented –
1) By Solution: Software, Services
2) By Technology: Trapped ions, Quantum Annealing, Superconducting Qubits, Other Technology
3) By Application: Optimization, Simulation And Modelling, Sampling, Other Application
4) By Vertical: Aerospace And Defense, Banking, Financial Services, And Insurance, Healthcare, Automotive, Energy And Power, Chemical, Government, Other Verticals
Subsegments:
1) By Software: Quantum Algorithms, Quantum Development Tools, Quantum Simulators, Quantum Programming Languages
2) By Services: Quantum Computing-As-A-Service (QCaaS), Consulting Services, Training And Support Services, Integration Services
Pre-Book The Cloud-Based Quantum Computing Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Cloud-Based Quantum Computing Industry?
Companies in the cloud-based quantum computing market are advancing their solutions with hybrid quantum-classical programming tools to improve performance, scalability, and reliability. These tools facilitate the development of applications that utilize both classical and quantum computing resources. In 2024, Nvidia Corporation, a US-based GPU developer, launched CUDA-Q, a quantum computing platform designed to integrate quantum processing units, GPUs, and CPUs. This open-source platform allows users to develop and test hybrid quantum-classical applications in the cloud, offering powerful tools for scientific and quantum computing research.
Who Are the Key Players In The Cloud-Based Quantum Computing Market?
Major companies operating in the cloud-based quantum computing market are:
• Amazon.com Inc.
• Google LLC
• Microsoft Corporation
• Accenture plc
• International Business Machines Corporation (IBM)
• Honeywell International Inc.
• Fujitsu Limited
• Toshiba Corporation
• PsiQuantum Corporation
• Quantum Machines Ltd.
• Xanadu AI Limited
• Super.tech
• Zapata Computing Inc.
• Riverlane Limited
• Q-CTRL Pty. Ltd.
• Rigetti & Co Inc. (Rigetti Computing)
• Cambridge Quantum Computing Limited
• Seeqc Inc.
• Atos SE
• D-Wave Systems Inc.
• Archer Materials Limited
• QC Ware Corp.
• Quantum Benchmark Inc.
• Quantum Circuits Inc.
• Quantum Computing Inc.
What Is The Most Dominant Region In The Cloud-Based Quantum Computing Market?
North America was the largest region in the cloud-based quantum computing market in 2023. The regions covered in the cloud-based quantum computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
